Work

Does green innovation reduce environmental degradation? A panel threshold analysis for BRICS countries

Year: 2023

Type: article

Abstract: In this present age, innovation has become inextricably tied to both long-term economic growth and environmentally sound development. In this context, the impact that environmentally focused technological advancements or innovations (GI) have on environmental quality is of the utmost importance. Therefore, the main goal of the present study is to determine how GI affects environmental degradation in the BRICS countries from 1992 to 2021. The ecological footprint (EFT) is an indicator used in the study to measure environmental degradation. The study divides the components that contribute to the explanation into two categories: the GI threshold variable and the independent variables RE, GDP, and population (POP). Additionally, this study investigates the indirect impact of RE, GDP, and POP through the threshold effect of GI. The stochastic impacts of the explanatory factors are explored using sophisticated panel data estimation methods and a panel threshold model. According to the findings of the study, an improvement in environmental quality occurs when the threshold level of GI is achieved, which indicates that innovation in the form of a lower EFT is responsible for the improvement. In light of the findings, recommendations for policymakers and stakeholders in BRICS countries are to promote RE and drive GI.

Source: Heliyon

DOI: 10.1016/j.heliyon.2023.e22686

Authors: Biao Geng, Guojun Yuan, Daoning Wu, Samia Khalid, Hamid Mahmood

Institutions: West Anhui University, Chinese Academy of Sciences, Chengdu Institute of Biology, Guangzhou College of Commerce, Xi'an Jiaotong University

Language: English

Topic: Energy, Environment, Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Industry, innovation and infrastructure, Responsible consumption and production, Climate action

Open Access status: gold

Estimated APC paid: $2,100